welcome to the third issue of the tenants’ union of nsw’s ... · that experiences the highest...
TRANSCRIPT
Compared to longer term trends, rents for new tenancies are currently increasing at a relatively slow rate. Over the last 20 years, new rents have increased at an average of around 8% across Sydney and 5% across the rest of New South Wales. Over the last five years new rents have slowed and are now generally increasing by closer to 3% per year.
Source: Rent and Sales Reports, Consumer Price Index
Welcome to the third issue of the Tenants’ Union of NSW’s Rent Tracker. With Rent Tracker, we bring multiple sources of information together to give tenants, journalists, researchers and decision-makers a clear and easy way to understand rent movements in New South Wales.
Issue3 2017
More than 300,000 bonds were lodged with the Rental Bond Board over the last year, which is an increase of more 37,000 on the previous year. In this issue we consider the impact of this increased activity on rents. For instance, over the last year Sydney LGA saw the number of bonds held rise by 4%, Hunters Hill by 0.5% and Ryde by nearly 7%. Rents in those
areas over the year rose by more than 10%. Simply adding more properties appears unlikely to assist in easing unaffordable rents in the private sector.
Rents in regional areas are generally more stable than in the capital, however in the last year rents in the Greater Sydney areas have increased more slowly than for the rest of the state.
Over the June quarter there were more bonds lodged for houses in Blacktown LGA as there were in the entire Inner Ring of Sydney, where units accounted for the majority
of bonds lodged. These geographic differences explain why median rents for houses and units appear to be so similar across the city.
Contents:Key StatsPage 1
What bonds can tell us about insecure rentingPage 2
Rent Tracker IndexPage 5
NSW Over TimePage 6
Key Stats: June 2017
Bonds Held Yearly IncreaseGreater Sydney 573,353 5.65%
Rest of NSW 243,382 2.81%
Median Rents: Houses Yearly IncreaseGreater Sydney $550 5.77%
Rest of NSW $345 4.55%
Median Rents: Units Yearly IncreaseGreater Sydney $540 3.85%
Rest of NSW $250 4.17%
$1.4 billionValue of all bonds Held
1
For this issue of Rent Tracker we have created a new measure from Rental Bond data – the turnover, or “churn”, of tenancies in the private rental market.
The data tells us that the vast majority of bonds lodged in any given period reflect tenants moving around the sector, with a relatively small number of bonds lodged representing growth of the sector. Every bond lodged with the Rental Bond Board represents money collected from either an existing household that has relocated or reformed, or from a household that has moved from another tenure or location to create an additional tenancy in NSW.
By looking at the number of bonds lodged in each time period, compared to the growth in all bonds lodged over time,
we can see the net churn of sitting bonds.
Across NSW around one in every three bonds held by the Bond Board had been churned over the previous year, a total of 271,000 bonds. This represents around 400,000 people moving between homes within the rental sector in a year. In the map below, you can see that across the Greater Sydney area it is the CBD that experiences the highest rate of churn, with the highest number of tenancies ending compared to new tenancies beginning. There are some pockets where the churn is lower, but it doesn't drop far below 25% for any part of the metropolitan area.
What bonds can tell us about insecure renting
Sydney's churned bonds Percentage of bonds churned in Sydney LGAs, 12 months to end of June 2017
2
For bonds lodged for tenancies in Greater Sydney during the year to March 2017, there was one additional tenancy for every six that reflect churn. For the rest of New South Wales, the ratio is 1:16.
We cannot see from this data the reason for any move – only that there is movement. These findings are consistent with information released by Fair Trading NSW in the Rental Bond Board Annual Report, showing two thirds of bonds refunded over 2015-16 had been held in the Board for less than two years. Clearly, renters move with relative frequency. Further research to understand what motivates tenants to move is required, and this is a function that should be considered for the Rental Bond Board to undertake when processing claims and refunds.
Comparing the Sydney region to the rest of New South Wales shows that the regional areas of the state have experienced a steadier supply of additional bonds over the last 20 years, where Sydney has experienced more obvious periods of contraction and expansion.
The churn rate has fallen over the last 20 years. As we cannot study the reasons for renters’ moves, we can only guess what is causing this fall.
The 'Unsettled' report released earlier in 2017 suggests that tenants technically ini
titate termination in the majority of cases. These were often reluctant or involuntary moves – tenants’ only available response to rent increases, unmet repair needs or other unwinnable disputes. However the single biggest reason given by tenants was 'personal reasons'.
One possible reason for the fall in churn is a drop in tenant-initiated endings to tenancy agreements. In a changing rental market where more people are renting for longer, renters who are unable to access property ownership are inclined to stay for as long as possible in their homes. Families who rent do not seek to relocate in sync with things like university semesters or other seasonal factors.
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Bonds lodged with the Rental Bond Boardcompared to changes in median new rent
Additional bonds
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Rent change per annum
What impact does churn have on the rental market?
The high ratio of churned to additional bonds may have a substantial impact on considerations of demand and supply needs, and policy settings aimed at lessening pressure on the rental market.
We have examined more closely the bond data for Camden, Ku-ring-gai and Botany Bay – the three council areas which have seen the largest increases in rental stock over the last 10 years.
In Botany Bay and Ku-ring-gai this is largely driven by an increase in units. In Camden there has been a large increase in both detached houses as well as units.
These areas show no consistent relationship between an increase in dwellings and the price of new rents. There are of course other factors, such as the labour market and other local population drivers that impact the ability of new supply to put downward pressure on rents.
It appears that alongside the very large number of bonds churned, the potential impact of new supply to which growth in rental bonds can be attributed is minimised. At the height of Botany Bay's growth in December 2015 there were 986 additional bonds lodged in the year prior. But there were still twice as many churned bonds lodged in the same time period. This means the number of people looking for a new tenancy in the area was potentially higher than the number of new dwellings coming into that market for periods of time.
Whether tenants are evicted, pushed into moving by circumstance, or choose to move of their own accord, the amount of churn in the rental market may be a problem which can only be solved by enabling longer tenure within the home. By reducing the number of tenants moving within the market, additional supply at a variety of price points can have a stronger impact on the market as a whole.
Botany Bay LGA added several thousand bonds in the years from 2011 to now. However the rent continues to rise. This chart shows that when new stock is added, it doesn't take long for the churn to kick in about a year later as the tenants in the new stock move, or are moved, on.
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Ku-ring-gaiBonds lodged with the Rental Bond Boardcompared to changes in median new rent
Additional bonds
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Rent change pa
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CamdenBonds lodged with the Rental Bond Board compared to changes in median new rent
Additional bonds
Churned bonds
Rent change per annum
Camden LGA has been growing steadily over 20 years but as seen a doubling in the number of bonds lodged each quarter since 2010. While the last few quarters have shown new rents to be very flat, rents over the growth period have continued to consistently rise.
Ku-ring-gai has seen rapid growth in units, particularly along transport corridors, over the last decade. Rents in the area have shown wide variance in movements making it hard to attribute any relationship between additional bonds and rent prices.
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5
Rent Tracker Index
Rent Tracker Index is a creation of the Tenants’ Union to help make sense of media reporting of rents. It demonstrates the difference in movements of rents advertised by landlords compared to the actual rents paid by tenants.
Data sourcesThe Advertised Rents index
combines the SQM Research Weekly Asking Rents Index for Greater Sydney, and Domain-APM’s data series for Greater Sydney, using both their houses and their units measures as separate lines of data. We intend to include Core Logic-RP Data’s data series in future publications.
Figure 1 shows the actual figures SQM, Domain-APM and the Rent and Sales Report reported new rents for units over the period December 2010 to June 2017. Figure 2 does the same for houses.
The Actual Rents index uses the All Dwellings, All Bedrooms series published in the Rent and Sales Report Trend for Greater Sydney, and the Sydney Rents component of the Australian Bureau of Statistics Consumer Price Index.
The Rents Component takes a sample of rents from agents across Sydney, and therefore represents a mix of new and established rents. Figure 3 demonstrates the Rents Component when applied to the median rent in Sydney in 1990.
Creating the IndexThe two asking rent measures and
the two actual rents measures have been indexed back to December 2010 to cover the last seven years.
If rents increased with inflation over the period of the index, they would appear as a flat line at the 1.00 mark.
Figure 3
Figure 2
Figure 1
$425
$535
$440
$550
$429
$518
$400
$450
$500
$550
$600
Dec-10 Dec-12 Dec-14 Dec-16
Sydney Units Rents(Actual v Asking)
Dec 2010 - July 2017
Rent and SalesReportDomain-APM
SQM Research
$480
$550
$617
$730
$440
$540
$400
$600
$800
Dec-10 Dec-12 Dec-14 Dec-16
Sydney House Rents(Actual v Asking)
Dec 2010 - June 2017
Domain-APM
SQM Research
Rent and Sales Report
$530
$170
$411
$50
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Mar-90 Mar-93 Mar-96 Mar-99 Mar-02 Mar-05 Mar-08 Mar-11 Mar-14 Mar-17
Actual Rents MeasuresMarch 1990 - June 2017
Rent and Sales Report -Greater Sydney RentsCPI rents inflated from March1990 median rent
6
Advertised rents are generally higher than actual rents, but this chart brings both down to the same level at the start point in December 2010, to allow for better comparison of relevant movements over time. Figure 4 shows the movements across quarters and appears to show actual rents tending to move in the quarter before asking rents show the same kind of movement. Figure 5 demonstrates the annual change.
ResultsThe full Rent Tracker Index
shows us that over the last seven years, measuring advertised rents has broadly reflected actual rent movements. However, it appears that advertised rents pick up trends a quarter late, and are generally underestimating the actual size of those movements. The Advertised Rents series describes rents moving half as fast as Actual Rents
One explanation for this might be that landlords and agents are advertising rents at a more optimistic level than they are ultimately receiving for the property and actual rents are being dragged up in a rubber-band effect.
Source: Rent and Sales Reports, Consumer Price Index, Domain Group-APM, SQM Research
Figure 5
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Advertised RentsSeriesActual Rents Series
Figure 4
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Change in median rentsQuarterly percentage changesSydney, March 2011-June 2017
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Actual Rents
Rent Tracker Index to June 2017
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Actual Rents
NSW Rents Over Time
The tables and charts over the following pages are here to help contextualise the Rent and Sales Report. The report has been running for 26 years, and is a deep and powerful data set.
Inflation and RentsWhere would rents be if rents had
risen in line with the cost of living generally since the 90s? The answer is that housing would be a lot cheaper. Median units would be more than $200 per week cheaper than now, and houses similarly reduced, though not by quite as much. The prices would also be more distinct - rather than the $10 per week difference between units and houses, they would be nearly $40 apart.
This is largely due to rented properties in the more expensive Inner Ring being largely units, outweighing the less expensive houses in the outer ring.
As shown in the long graph below, at different periods since September1997, rents have actually risen more slowly than inflation. This was particularly true for the first half of 1990s and the first few years of the 21st century.
Greater Sydney Units Adjusted for inflation ($2017)
Mar 1990 $160 $317
Jun 2017 $535 $535
Increase: 234% 69%
Greater Sydney Houses Adjusted for inflation ($2017)
Mar 1990 $190 $377
Jun 2017 $540 $540
Increase: 184% 43%
Then and Now- Sydney Rents
Source: Rent and Sales Reports, Consumer Price Index
Source: Rent and Sales Reports, Consumer Price Index
$530
$395
$351
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Sep-97 Sep-06 Sep-15
Sydney rents, wages and cost of livingSep 1997- Jun 2017
Actual median new rents
If 1997 median rents tied to wages
If 1997 median rents tied to inflation
8
Bonds & Rents over timeLooking at the bond data gives
context for rent levels. For instance, in the generally more expensive Inner Ring of Sydney the majority of rented dwellings are units, which in large part accounts for the high cost of units compared to houses across the city.
Note: There are approximately a third of all bonds which were identified as townhouses, other dwelling types or not
stated on their bond lodgment form. These are included in the All Dwellings count.
For the rents tables we have chosen two bedroom units and three bedroom houses because of the consistent use of those data sets over time, as well as the high proportion of all dwellings they represent.
They are listed by Local Government Areas, with summaries for the Inner, Middle and Outer Rings, and the rest of the Greater Metropolitan Region.
Source: Rent and Sales Report
HousesBonds Held
June 2017
Increase over the last year
5 years average yearly
increase
10 years average yearly
increase
20 years average yearly
increaseSYD Inner Ring 12566 14.59% 4.75% 2.77% 2.62%SYD Middle Ring 28325 6.00% 3.56% 2.00% 1.57%SYD Outer Ring 91354 9.53% 5.46% 3.05% 3.23%Newcastle 7291 13.50% 3.98% 1.77% 2.04%Wollongong 5864 7.09% 3.07% 2.11% 2.55%Rest of NSW 100081 4.53% 2.72% 2.80% 3.05%Total NSW 245481 7.32% 3.94% 2.75% 2.85%
UnitsBonds Held
June 2017
Increase over the last year
5 years average yearly
increase
10 years average yearly
increase
20 years average yearly
increaseSYD Inner Ring 107801 5.75% 3.96% 2.06% 3.25%SYD Middle Ring 87470 10.91% 6.84% 4.04% 3.86%SYD Outer Ring 56718 7.45% 4.05% 2.72% 3.15%Newcastle 5580 8.03% 1.85% 1.49% 1.59%Wollongong 7944 1.79% 1.89% 1.45% 2.01%Rest of NSW 48314 2.26% 0.68% 1.44% 2.03%Total NSW 313827 6.81% 4.06% 2.56% 3.11%
All DwellingsBonds Held
Mar 2016
Increase over the last year
5 years average yearly
increase
10 years average yearly
increase
20 years average yearly
increaseSYD Inner Ring 186130 3.57% 2.89% 1.86% 2.35%SYD Middle Ring 170938 6.97% 5.09% 3.41% 3.06%SYD Outer Ring 216285 6.46% 4.26% 2.87% 3.16%Newcastle 21428 4.77% 2.14% 2.11% 2.41%Wollongong 19414 3.36% 2.25% 2.03% 2.09%Rest of NSW 202540 2.55% 1.81% 2.72% 2.84%Total NSW 816735 4.79% 3.37% 2.66% 2.82%
9
Median Rents All Units June 2017
New BondsJune 2017
Median RentIncrease over the last year
5 years average yearly
increase
10 years average yearly
increase
20 years average yearly
increase
Inner Ring LGAs 10752 $630 5.00% 3.52% 5.19% 5.05%Ashfield 412 $490 4.26% 4.14% 5.76% 5.13%Botany Bay 385 $613 3.81% 6.84% 8.14% 6.17%Lane Cove 341 $560 1.82% 4.01% 5.43% 4.55%Leichhardt 350 $550 -1.79% 1.92% 4.93% 5.32%Marrickville 708 $495 3.13% 4.62% 6.25% 5.65%Mosman 342 $633 6.30% 2.83% 4.69% 4.70%North Sydney 1170 $630 5.88% 2.75% 4.65% 4.14%Randwick 1259 $625 4.17% 3.75% 5.10% 5.13%Sydney 4251 $650 4.84% 3.03% 4.46% 5.00%Waverley 1014 $720 5.88% 4.42% 6.05% 5.43%Woollahra 520 $690 6.15% 2.83% 4.48% 4.61%
Middle Ring LGAs 9022 $520 4.00% 3.87% 5.31% 5.30%Auburn 715 $500 4.17% 2.13% 5.24% 6.03%Bankstown 343 $420 2.44% 2.57% 4.91% 4.11%Burwood 193 $565 0.89% 5.13% 5.85% 5.33%Canterbury 789 $410 5.13% 3.82% 6.92% 4.98%Canada Bay 799 $620 3.33% 2.42% 4.22% 4.39%Hunters Hill 37 $575 0.88% 5.02% 5.95% 5.76%Hurstville 437 $470 4.44% 3.80% 5.70% 4.77%Kogarah 261 $500 4.17% 3.55% 4.90% 4.69%Ku-Ring-Gai 382 $620 -0.80% 1.34% 5.30% 4.44%Manly 466 $700 0.00% 4.56% 5.49% 5.28%Parramatta 1718 $480 7.87% 4.78% 5.54% 5.03%Rockdale 841 $530 1.92% 4.76% 5.86% 5.26%Ryde 1003 $500 6.38% 4.56% 5.97% 5.24%Strathfield 407 $520 1.96% 3.16% 4.65% 5.16%Willoughby 631 $620 3.33% 2.42% 4.48% 4.15%
Outer Ring LGAs 5728 $430 4.88% 3.62% 5.16% 4.91%The Hills 321 $520 0.00% 2.48% 4.65% 5.91%Blacktown 325 $380 2.70% 2.86% 5.15% 5.12%Blue Mountains 71 $320 6.67% 5.92% 6.53% 5.03%Camden* 34 $350 -10.26% 0.29% - 4.33%Campbelltown 180 $390 11.43% 4.70% 8.66% 5.85%Fairfield 302 $350 6.06% 3.65% 6.88% 5.08%Gosford 331 $355 1.43% 4.13% 3.99% 4.40%Hawkesbury 43 $310 -3.13% 1.70% 4.48% 3.87%Holroyd 584 $430 4.88% 3.05% 5.36% 4.75%Hornsby 522 $510 2.00% 3.47% 4.77% 4.54%Liverpool 634 $400 14.29% 5.23% 7.18% 5.39%Penrith 335 $325 1.56% 3.03% 6.09% 4.89%Pittwater 186 $550 -1.79% 1.92% 4.62% 5.06%Sutherland 748 $475 3.26% 3.50% 5.43% 4.69%Warringah 814 $575 4.55% 4.12% 4.79% 4.92%Wollondilly* 27 $300 -3.23% 3.71% 5.39% 4.69%Wyong 271 $320 0.00% 2.71% 5.08% 4.81%Rest of Greater Metropolitan Region 1987 $340 6.25% 3.23% 5.99% 5.35%Kiama 32 $400 15.94% 5.92% 7.59% 5.68%Lake Macquarie 197 $320 7.56% 2.71% 4.81% 4.81%Maitland 115 $280 7.69% 4.01% 4.81% 4.78%Newcastle 649 $350 6.06% 1.81% 4.75% 5.50%Port Stephens 110 $300 7.14% 2.13% 4.95% 4.69%Shellharbour 86 $330 10.00% 5.50% 6.86% 5.41%Wollongong 706 $365 4.29% 4.71% 6.61% 5.50%
Source: Rent and Sales Report*denotes a very small sample size, median rent may be unreliable.
Median Rents All houses June 2017
New BondsJune 2017
Median RentIncrease over the last year
5 years average yearly
increase
10 years average yearly
increase
20 years average yearly
increase
Inner Ring LGAs 1632 $870 -1.69% 3.01% 5.23% 4.66%Ashfield 63 $750 8.30% 2.90% 5.72% 4.87%Botany Bay 68 $800 9.59% 6.64% 6.16% 5.39%Lane Cove 66 $950 -5.00% 1.77% 4.32% 4.69%Leichhardt 255 $850 3.98% 4.33% 5.66% 4.84%Marrickville 245 $800 6.67% 4.89% 6.66% 5.58%Mosman 53 $1,675 -14.32% 0.30% 3.83% 5.27%North Sydney 73 $920 -7.54% 1.66% 4.37% 3.61%Randwick 227 $950 0.00% 1.54% 5.24% 4.69%Sydney 351 $800 -2.44% 2.78% 5.92% 4.37%Waverley 115 $1,138 -9.00% 0.67% 4.18% 4.80%Woollahra 116 $1,295 -7.17% 0.31% 2.62% 4.26%
Middle Ring LGAs 2635 $650 8.33% 3.40% 5.80% 4.89%Auburn 119 $580 9.43% 5.21% 7.55% 5.47%Bankstown 458 $540 3.85% 3.71% 6.05% 4.84%Burwood 41 $630 -16.00% 0.98% 4.78% 4.14%Canterbury 222 $615 6.03% 4.23% 5.80% 5.04%Canada Bay 150 $800 6.67% 3.30% 5.92% 5.03%Hunters Hill* 27 $1,000 11.42% 4.05% 7.18% 4.69%Hurstville 144 $595 4.39% 3.13% 5.45% 4.64%Kogarah 86 $650 0.00% 3.40% 4.97% 4.49%Ku-Ring-Gai 239 $1,100 10.00% 3.03% 5.40% 4.66%Manly 106 $1,375 -1.79% 5.54% 6.11% 6.11%Parramatta 406 $520 4.00% 2.48% 5.31% 4.39%Rockdale 193 $650 4.00% 3.78% 5.24% 4.69%Ryde 262 $690 3.76% 3.01% 5.60% 4.61%Strathfield 47 $710 2.90% 2.42% 5.91% 4.95%Willoughby 135 $1,150 21.05% 5.02% 5.17% 5.42%
Outer Ring LGAs 9604 $495 3.13% 3.34% 5.86% 4.90%The Hills 540 $650 0.00% 2.48% 4.78% 4.39%Blacktown 1594 $470 4.44% 3.80% 6.10% 4.92%Blue Mountains 284 $445 3.49% 4.92% 6.15% 5.09%Camden 564 $520 0.00% 1.83% 5.06% 5.16%Campbelltown 715 $440 4.76% 2.98% 5.82% 4.72%Fairfield 491 $480 6.67% 3.71% 6.12% 4.88%Gosford 768 $470 4.44% 3.80% 5.32% 4.77%Hawkesbury 252 $470 5.03% 3.28% 5.70% 4.92%Holroyd 348 $500 2.04% 3.06% 5.60% 4.69%Hornsby 345 $700 7.69% 3.65% 4.99% 4.69%Liverpool 710 $520 4.00% 2.93% 5.65% 4.89%Penrith 987 $450 1.12% 2.38% 5.64% 4.69%Pittwater 150 $950 0.00% 2.86% 4.70% 4.83%Sutherland 366 $695 3.73% 2.98% 4.92% 4.74%Warringah 292 $928 3.06% 3.00% 4.85% 4.85%Wollondilly 167 $465 -1.06% 5.25% 6.40% 5.32%Wyong 1031 $410 2.50% 3.22% 5.28% 4.82%Rest of Greater Metropolitan Region 3737 $420 5.00% 2.02% 4.91% 4.94%Kiama 73 $530 6.00% 4.76% 6.12% 5.55%Lake Macquarie 878 $400 0.00% 1.57% 4.40% 4.85%Maitland 424 $400 3.90% 0.00% 4.40% 5.03%Newcastle 893 $425 6.25% 2.26% 4.64% 5.01%Port Stephens 352 $420 7.69% 2.99% 5.32% 5.28%Shellharbour 235 $490 6.52% 4.67% 5.95% 5.28%Wollongong 585 $500 6.38% 4.83% 5.97% 5.24%
Source: Rent and Sales Report*denotes a very small sample size, median rent may be unreliable.
Regional RentsThe following tables show two
bedoom units and three bedroom houses median rents across 15 Local Government Areas containing the most populous regional centres in New South Wales.
We have restricted our analysis here to 15 regional centres due to the small
numbers of bonds lodged in a quarter in some areas of New South Wales. The Rent and Sales Report does contain all Local Government Areas across the state.
Unlike the Sydney Greater Metropolitan Region, data prior to 1998 is no longer easily accessible. We intend to include older data in future publications.
2 bedroom units Median Rent
Jun-17
Increase over the last year
5 years average yearly
increase
10 years average yearly
increaseAlbury $200 -4.76% 3.30% 2.92%Coffs Harbour $295 2.35% 4.21% 5.36%Wagga Wagga $238 3.48% -0.17% 4.05%Port Macquarie-Hastings $300 3.45% 4.13% 4.95%Tamworth Regional $240 2.13% 2.95% 4.47%Orange $260 8.33% 0.19% 4.04%Wingecarribee $350 12.90% 6.96% 7.81%Dubbo $240 2.13% 6.52% 5.54%Bathurst Regional $260 0.00% 2.93% 3.75%Shoalhaven $290 2.65% 5.21% 5.80%Lismore $250 2.04% 2.59% 3.63%Greater Taree $253 10.00% 4.81% 4.69%Ballina $325 1.56% 3.78% 3.52%Armidale Dumaresq $243 3.40% 2.96% 4.27%Goulburn Mulwaree $220 0.00% 3.81% 5.00%
3 bedroom houses Median Rent
June 2017
Increase over the last year
5 years average yearly
increase
10 years average yearly
increaseAlbury $290 0.00% 1.82% 3.86%Coffs Harbour $400 2.56% 2.71% 8.18%Wagga Wagga $320 6.67% 1.99% 5.06%Port Macquarie-Hastings $420 5.00% 4.32% 10.07%Tamworth Regional $320 0.00% 2.71% 6.83%Orange $320 0.00% -1.21% 6.83%Wingecarribee $478 6.22% 6.43% 15.76%Dubbo $330 6.45% 3.34% 9.20%Bathurst Regional $320 -3.03% 1.30% 7.78%Shoalhaven $360 5.88% 4.42% 10.86%Lismore $355 1.43% 3.42% 7.26%Greater Taree $335 4.69% 4.41% 9.79%Ballina $488 10.91% 6.27% 8.14%Armidale Dumaresq $330 -2.94% 1.92% 6.58%Goulburn Mulwaree $330 3.13% 2.62% 11.67%
Source: Rent and Sales Report
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Sources:Family and Community Services, 2007-2017, Rent and Sales Report issues. 79, 99, 115, 119.
Rent and Sales Reports are available at: http://www.housing.nsw.gov.au/about-us/reports-plans-and-papers/rent-and-sales-reports
Fair Trading NSW, Residential Rental Bond Lodgements and Refunds for April to June 2017. Rental Bond Data available at: http://fairtrading.nsw.gov.au/ftw/About_us/Data_and_statistics/Rental_bond_data.page?
Australian Bureau of Statistics, 2017, Consumer Price Index: 6401.0, Table 9.
Australian Property Monitors, 2010-2014, Rental Reports, all issues from December 2010 to June 2014
Domain Group and Australian Property Monitors, 2014-2017, Domain Group Rental Reports, all issues from September 2014 to December 2016 Domain Group, 2017 State of the Market Report, June 2017 accessed at: http://www.domain.com.au/product/state-of-the-market-report-june-2017/
NSW Fair Trading, 2015, Rental Bond Board Annual Report 2014-15 NSW Fair Trading, 2016, Rental Bond Board Annual Report 2015-16
SQM Research, Weekly Rents Index for Sydney Region, Accessed 1st August 2017, <http://www.sqmresearch.com.au/weekly-rents.php?region=nsw%3A%3ASydney&type=c&t=1>
Disclaimer
The Tenant’s Union of NSW has taken care in reporting accurately and providing analysis based on the publications of others. If an error exists, please get in touch below.
Information on this publication remains the copyright of the Tenants’ Union of NSW, unless stated otherwise.
For further information about this publication contact Tenants’ Union of NSW, (02) 8117 3700, [email protected]
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